Saregama India Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Music: 69.4% • Artist Management: 13.3% • Video: 11.0%
AI Sector View
AI GENERATEDMedia Entertainment & Publication
This sector uses indirect proxies rather than direct ad-spend data. Urban CMIE sentiment at 109.5 (2026-07), disposable personal income of INR 353131560 million (Dec/25), and consumer spending of INR 44743 billion (Jun/26) are supportive, but formal consumer confidence weakened to 88.3 (Jul/26). FPI flow is mildly negative at INR -558 crore over 3 months to 2026-08-31, so the stance remains neutral and confidence is capped.
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 42.1% YoY, showing strong momentum
- Company has delivered good sales growth of 17.4% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 41.9%
CONS
- Receivables are growing faster than sales - a possible quality concern
- Recurring exceptional / one-off items are inflating headline profit
- Operating margins have contracted to 34.2% from 37.3%
- Expensive relative to growth - PEG of 11.9
- Growth is decelerating - 3Y profit CAGR (3.7%) trails the 5Y trend (12.7%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PVRINOX | 1171.35 | 25.87 | 11502.65 | 0.00 | 56.50 | 203.67 | 1622.20 | 10.42 | 11.51 | 32.59 |
| SAREGAMA | 500.70 | 43.59 | 9653.97 | 0.90 | 51.88 | 42.10 | 263.60 | 27.48 | 18.53 | 35.40 |
| TIPSMUSIC | 650.20 | 38.73 | 8311.61 | 2.00 | 43.70 | -4.67 | 106.51 | 20.94 | 124.42 | 50.27 |
| SUNSHINE | 480.25 | 43.40 | 1495.92 | 0.00 | — | — | — | — | 41.33 | — |
| PANORAMA | 47.61 | 51.37 | 1240.41 | 0.00 | 127.15 | 3529.75 | 1830.70 | 1242.65 | 28.17 | 10.94 |
| BALAJITELE | 92.39 | 0.00 | 1126.26 | 0.00 | 22.39 | 476.59 | 240.29 | 229.94 | -1.16 | 10.71 |
| AQYLON | 22.56 | 48.31 | 572.42 | 0.00 | -1.85 | -3535.19 | 0.04 | -96.33 | -45.28 | -1750.00 |
| CINELINE | 94.16 | 29.02 | 358.87 | 1.33 | -12.47 | -91.95 | 55.01 | 48.56 | -3.12 | -78.71 |
| UFO | 63.12 | 10.20 | 245.06 | 0.00 | 5.64 | -13.50 | 110.69 | 3.81 | 12.77 | 16.36 |
| TIPSFILMS | 326.25 | 0.00 | 141.03 | 0.00 | -29.41 | -720.49 | 47.96 | -49.71 | -6.69 | -61.48 |
| BAGFILMS | 4.57 | 21.21 | 99.59 | 0.00 | 3.57 | 58.90 | 38.59 | 22.62 | 5.57 | 18.58 |
| CINEVISTA | 14.15 | 13.31 | 81.27 | 0.00 | 1.00 | 0.70 | 7.49 | 61.77 | 14.45 | 31.09 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 163 | 172 | 204 | 263 | 205 | 242 | 483 | 241 | 207 | 230 | 260 | 287 | 264 | |
| 113 | 111 | 139 | 193 | 154 | 181 | 399 | 160 | 151 | 161 | 169 | 166 | 196 | |
| Operating Profit | 50 | 61 | 66 | 70 | 51 | 61 | 84 | 80 | 55 | 69 | 92 | 121 | 68 |
| OPM % | 30.64% | 35.32% | 32.13% | 26.62% | 25.07% | 25.16% | 17.45% | 33.35% | 26.74% | 29.90% | 35.23% | 42.08% | 25.61% |
| 18 | 13 | 15 | 18 | 12 | 13 | 16 | 23 | 14 | 11 | 0 | 8 | 5 | |
| Interest | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 5 | 1 | 1 | 1 | 2 | 2 |
| Depreciation | 7 | 8 | 9 | 12 | 13 | 14 | 15 | 17 | 17 | 19 | 21 | 24 | 24 |
| Profit before Tax | 59 | 66 | 70 | 76 | 51 | 59 | 84 | 82 | 51 | 60 | 70 | 103 | 71 |
| Tax % | 26.68% | 26.84% | 25.30% | 29.11% | 26.84% | 24.20% | 26.18% | 26.66% | 28.48% | 27.07% | 26.29% | 28.46% | 26.42% |
| Net Profit | 0 | 0 | 0 | 0 | 37 | 45 | 62 | 60 | 37 | 44 | 51 | 74 | 52 |
| 2.26 | 2.50 | 2.72 | 2.80 | 1.92 | 2.33 | 3.24 | 3.11 | 1.90 | 2.28 | 2.67 | 3.86 | 2.69 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 218 | 357 | 545 | 521 | 442 | 576 | 737 | 803 | 1,171 | 985 | 1,041 | |
| 209 | 320 | 511 | 461 | 312 | 377 | 516 | 562 | 894 | 648 | 692 | |
| Operating Profit | 9 | 36 | 34 | 60 | 130 | 199 | 221 | 241 | 277 | 337 | 349 |
| OPM % | 4.32% | 10.17% | 6.24% | 11.60% | 29.44% | 34.52% | 30.00% | 30.07% | 23.65% | 34.20% | 33.51% |
| 13 | 10 | 61 | 11 | 31 | 35 | 54 | 69 | 63 | 34 | 25 | |
| Interest | 2 | 3 | 7 | 7 | 3 | 5 | 6 | 3 | 6 | 5 | 7 |
| Depreciation | 4 | 4 | 3 | 5 | 6 | 13 | 21 | 36 | 58 | 82 | 88 |
| Profit before Tax | 16 | 39 | 85 | 60 | 152 | 216 | 248 | 271 | 276 | 284 | 303 |
| Tax % | 45.72% | 27.29% | 35.84% | 27.93% | 25.31% | 23.95% | 25.41% | 27.04% | 26.02% | 27.41% | 27.21% |
| Net Profit | 9 | 28 | 54 | 43 | 113 | 164 | 185 | 198 | 204 | 206 | 221 |
| EPS | 4.96 | 16.24 | 31.18 | 25.26 | 64.97 | 84.35 | 9.63 | 10.25 | 10.59 | 10.74 | — |
| Dividend Payout % | 31.05% | 18.32% | 9.65% | 5.95% | 30.97% | 37.90% | 31.21% | 39.03% | 42.48% | 41.90% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 16%
- 5 Years:
- 17%
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 41%
- 5 Years:
- 13%
- 3 Years:
- 4%
STOCK PRICE CAGR
- 10 Years:
- 36%
- 5 Years:
- 5%
- 3 Years:
- 8%
- 1 Year:
- 1%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 16%
- 3 Years:
- 15%
- Last Year:
- 14%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 17 | 17 | 17 | 17 | 17 | 19 | 19 | 19 | 19 | 19 |
| Minority Interest | 3 | 2 | 3 | 2 | 3 | 3 | 3 | 3 | 3 | 3 |
| 322 | 364 | 411 | 376 | 486 | 1,357 | 1,320 | 1,438 | 1,551 | 1,659 | |
| 3 | 16 | 64 | 9 | 1 | 1 | 0 | 213 | 32 | 105 | |
| Trade Payables | 38 | 40 | 56 | 58 | 56 | 65 | 70 | 93 | 128 | 158 |
| 137 | 189 | 229 | 248 | 349 | 423 | 291 | 267 | 362 | 375 | |
| Total Liabilities | 521 | 629 | 780 | 711 | 913 | 1,868 | 1,704 | 2,034 | 2,095 | 2,319 |
| 196 | 195 | 213 | 217 | 224 | 276 | 336 | 740 | 833 | 1,029 | |
| 132 | 151 | 148 | 75 | 137 | 676 | 239 | 118 | 111 | 379 | |
| 10 | 49 | 96 | 94 | 69 | 105 | 164 | 239 | 240 | 243 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 159 | 143 | 177 | |
| Cash & Bank | 19 | 11 | 7 | 9 | 145 | 324 | 508 | 542 | 544 | 149 |
| 164 | 223 | 316 | 316 | 339 | 487 | 457 | 236 | 224 | 342 | |
| Total Assets | 521 | 629 | 780 | 711 | 913 | 1,868 | 1,704 | 2,034 | 2,095 | 2,319 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 8 | -9 | -23 | 101 | 203 | 152 | 160 | 93 | 331 | 100 | |
| Cash from Investing | 0 | -0 | -6 | -5 | -136 | -630 | -148 | 17 | -221 | -113 |
| Cash from Financing | -3 | 9 | 38 | -72 | -49 | 677 | -75 | -85 | -99 | -31 |
| -7 | -10 | -4 | 2 | 4 | 141 | -130 | 25 | 12 | -45 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-02 - Intimation regarding participation of company in forthcoming conference to be held on 8th September, 2026.
2026-08-25 - Saregama India Limited has informed the Exchange about Copy of Newspaper Publication regarding dispatch of electronic copies of Integrated Annual Report along with the Notice of the 79th AGM of the Company.
2026-08-24 - Saregama India Limited has informed the Exchange regarding Business Responsibility and Sustainability Report of the Company for the financial year 2025-26, which also forms part of the Integrated Annual Report for the financial year 2025-26.
2026-08-24 - Pursuant to the provisions of Regulation 36(1)(b) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we hereby inform you that the Company has sent a letter providing weblink for accessing the Notice of the 79th Annual General Meeting and the Integrated Annual Report for FY 2025-26 to those Members who have not registered their e-mail address with the Company/Registrar and Share Transfer Agent/Depositories.
2026-08-24 - Saregama India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 15, 2026
2026-08-14 - Saregama India Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - Saregama India Limited has informed the Exchange regarding Press Release.
2026-08-11 - Saregama India Limited has informed the Exchange about Q1FY27 Earning Conference Call-Transcript
2026-08-11 - Intimation regarding participation of company in forthcoming conference to be held on 14th August, 2026.
News
Recent coverage and analyst commentary for SAREGAMA
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